Lat Am, APAC streaming revenues to grow in 2023, says Parrot Analytics VP

Parrot Analytics’ Alejandro Rojas speaking at the Content Trends 2023 session

CONTENT AMERICAS: Global streaming platforms could see their revenues bolstered over the coming year due to the increased importance and market weight of the Lat Am and APAC regions, according to industry analysis company Parrot Analytics.

Speaking at the inaugural session at Content Americas in Miami yesterday, Alejandro Rojas, VP of applied analytics at Parrot, stated that the global streaming platforms brought in over US$70bn in revenues last year.

Regionally, revenues in the Latin American market grew at a faster rate than any other region across the globe in 2022. According to Parrot data, the region saw a 22% surge in revenues from streaming subscriptions last year, followed in second place by the APAC region which enjoyed a growth in revenues of 18%.

“The US, Canada, Europe and MENA are about 80% of the market in terms of revenue, but APAC and Latin America are actually growing faster. When people are looking for growth, Lat Am is a region to look into as it’s the region that grew the fastest in 2022. Lat Am and APAC are the cool kids in town,” Rojas told delegates in Miami.

The exec predicted that half of all additional TV streaming revenues in 2023 are set to come from Lat Am and the APAC market, driven predominantly by local, original hits.

Given the increasing popularity of non-US original titles, Rojas also predicted that budgets for non-US productions could soar as such titles now transcend local markets and find success across the globe.